CALGARY, AB, April 20, 2021
/CNW/ - Renoworks Software Inc. (TSXV: RW)
("Renoworks" or the "Company"), the leading end-to-end
visualization platform for the building construction industry, is
pleased to announce that it has entered into a capital markets
advisory agreement with Sophic Capital Inc., a comprehensive
capital markets advisory firm focused on publicly traded growth
companies.
"Given our recent record growth and strong financial metrics, we
now feel it is time to tell our story to more investors," said
Doug Vickerson, CEO of
Renoworks. "Our focus on building the business during fiscal
2020 culminated in record Q4 2020 financial results. Renoworks is
well positioned for continued growth in 2021, and we believe that
now is the time to engage Sophic Capital to help us communicate the
next chapter of our evolution as an organization as well as develop
a sound capital markets strategy to take the Company through its
next stages of growth."
"Renoworks has all of the characteristics that we look for in
successful, innovative businesses," said Sean Peasgood, President of Sophic
Capital. "Management is strong and aligned with shareholders;
its technology is unique and has been adopted by major brands;
fundamentals are strong; and the total addressable market is worth
multi-billions of dollars. Our experience in working with
microcap issuers has shown that these are crucial to not only
successful businesses but also stock appreciation over the
long-term. We believe that Renoworks' milestones over the past year
have escaped the investor community, and that now is the time to
implement a comprehensive capital markets strategy to communicate
its story."
The agreement is effective for a twelve-month term, and Sophic
will be paid C$7,000 per month.
Sophic also receives 300,000 stock options to purchase Renoworks
shares at a price of $0.45 per share.
Options will vest over 12 months and unexercised vested options
will expire ninety (90) days after Sophic Capital ceases to provide
services to the Corporation, or in any event on April 19, 2024.
ABOUT SOPHIC CAPITAL
Sophic Capital is a capital markets advisory firm for public and
private growth companies, specializing in developing complete
capital markets strategies for companies across all stages of
development. Sophic Capital's depth of knowledge in the technology
sector, clean technology and special situations markets combined
with decades of experience working in the capital markets, makes it
an ideal partner to help companies lower the cost of capital and
accelerate growth. For more information,
visit www.sophiccapital.com.
ABOUT RENOWORKS
Renoworks Software Inc. develops and sells unique digital
visualization software and integration solutions for the remodeling
and new home construction industry. Renoworks delivers its
technology to manufacturers, contractors, builders, and retailers
offering solutions to one of the home improvement industry's
greatest challenges: enabling homeowners to review their product
selections in a hyper-realistic, virtual environment before
committing to purchases and construction. Renoworks markets its
technologies as an innovative engagement, sales, and marketing
platform and generates revenues from five main business lines:
Renoworks Enterprise, Renoworks PRO, Renoworks Design Services,
Renoworks FastTrack, and Renoworks API (Application Programming
Interface). For more information, visit www.renoworks.com and
www.renoworkspro.com.
SOURCE RenoWorks Software Inc.